Symphony Financial Ltd. Co. Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Symphony Financial Ltd. Co. grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,466 shares of the electric vehicle producer’s stock after purchasing an additional 597 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Tesla were worth $4,425,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after purchasing an additional 1,022,589 shares in the last quarter. FMR LLC increased its holdings in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after acquiring an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after acquiring an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLA. Wells Fargo & Company upped their target price on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group lifted their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Mizuho reiterated an “outperform” rating and issued a $515.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Piper Sandler boosted their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $318.31.

Tesla Stock Performance

TSLA stock opened at $392.21 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.26 trillion, a P/E ratio of 192.26, a P/E/G ratio of 6.79 and a beta of 2.34. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock’s 50 day simple moving average is $405.12 and its 200 day simple moving average is $300.65.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts predict that Tesla, Inc. will post 2.82 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 553,386 shares of company stock valued at $196,305,796 over the last three months. Company insiders own 20.70% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.